PRESS RELEASE: Walnut Creek Transit Lifestyle Associates Starts Construction of First Mixed-Use Phase of 596-Unit Walnut Creek Transit Village

FOR IMMEDIATE RELEASE

Contact:
Lauren Seaver, BGP
lseaver@opportunityhousinggroup.com
925-575-8737

Ron Heckmann
ron@heckmanncomms.com
510-652-5800

Major BART Transit-Oriented Development is the first Mixed-Use Phase in Walnut Creek Transit
Village, Adding Apartments, Retail, Public Spaces, Bus Connections, New BART Parking
Walnut Creek, CA (Oct. 7, 2019) Walnut Creek Transit Lifestyle Associates, a joint venture of
Blake Griggs Properties (BGP) and Transit Village Associates (TVA), announced today its
groundbreaking on the first of two housing and retail components of the long-awaited Walnut
Creek Transit Village (WCTV). Being developed in partnership with Mitsui Fudosan America, the
$380 million, 16-acre mixed-use community of 596 apartments and 26,000 square-feet of retail is
located on the former surface parking lots at the Walnut Creek Bay Area Rapid Transit (BART)
Station. When completed, WCTV will be one of the largest BART-adjacent transit-oriented
developments of its kind in the Bay Area.

 
This 1.4 million square-foot, multi-purpose development adds major enhancements to the Walnut
Creek BART station’s regional intermodal transit connectivity, including easier bike and pedestrian
access for local residents and better connectivity for bus routes serving the San Francisco East
Bay. It is estimated that this project will provide transit-adjacent housing for nearly 900 residents, in
a vibrant community within steps of the station.

 
“Walnut Creek Transit Village will get more people out of cars, add much-needed housing and
create new, exciting amenities around the station through our new retail and restaurant space,”
said Frank Arthur, managing principal, TVA. “This is exactly the kind of housing-centric project the
Bay Area wants and needs.”

 
The now under-construction first mixed-use phase, which includes 358 apartments and 14,500
square-feet of retail, is aimed for completion in 2022. The second phase component of 238
apartments and 12,000 square-feet of retail is expected to break ground in either 2020 or 2021.
The shops and restaurants anticipated for the Transit Village will complement Walnut Creek’s
already strong retail mix, bringing in local, artisanal purveyors and popular regional-national brands
alike.

 
“We’re excited to be underway on this beautiful, walkable new gathering place for Walnut Creek
and the Bay Area,” said Brad Griggs, managing partner of BGP, which has a development track
record of over $4.5 billion in real estate. “Our first goal was to design a great place to live, where
you can step out to go shopping, to the gym, or to meet friends for coffee or dinner. The fact that
it’s adjacent to the region’s rail-transit backbone, plus the views of Mount Diablo and great weather
of the East Bay, make Walnut Creek Transit Village a truly exceptional project.”

 
Fronting the two major arterial streets in Walnut Creek, Ygnacio Valley Blvd. and N. California
Blvd, the new community provides a comprehensive landscape design with abundant gathering
spaces and native plantings that will partially-cleanse street run-off. The WCTV project also
provides $7 million in funding for the creation of affordable housing in the area.

 
The lender is Sumitomo Mitsui Trust Bank, Limited, architect is BDE Architecture and general
contractor is Deacon Construction.

About Blake Griggs Properties

Danville, CA-based Blake Griggs Properties, Inc., is a private real estate investment, development
and services company with a $4.5 billion track record and a $1 billion current pipeline of new
development projects. Its strategy is to acquire, develop, lease and manage high-density
multifamily residential, mixed-use, and retail projects primarily located in infill markets along the
West Coast, with a primary focus on the San Francisco Bay Area. Led by founders Brad Blake and
Brad Griggs, Blake Griggs is locally-responsive and sensitive to the communities and
neighborhoods in which it operates. It studiously avoids formulaic methods, instead taking a handcrafted,
tailored approach to each project. For more information, visit us at www.opportunityhousinggroup.com.

About Transit Village Associates

Walnut Creek, CA-based Transit Village Associates was the original developer of the Walnut
Creek Transit Village and is a founding member of the current Walnut Creek Transit Lifestyle
Associates, the joint venture entity overseeing the project. Founded by Managing Partner Frank
Arthur, TVA began the development process for the Walnut Creek Transit Village in 1999. Arthur
has over 30 years of experience in commercial real estate development, management, leasing and
sales. He was President of Western Center Management Associates, a subsidiary of a Northern
California Shopping Center Development Company. He also was Vice President of Bramalea
Pacific, the Developer of the Oakland City Center Transit Oriented Development at the 12th Street
BART station in downtown Oakland.

About Mitsui Fudosan America

Mitsui Fudosan America, Inc. (MFA) is a real estate investment and development company
headquartered in New York City, and is the U.S. subsidiary of Mitsui Fudosan Co., Ltd. – Japan’s
largest publicly traded real estate company, with over $60 billion of assets. MFA’s history in the
United States dates back to the early 1970s. Since its inception, MFA has acquired and developed
numerous office, multifamily and hospitality properties in major markets throughout the U.S. In
addition to its significant portfolio of office and residential buildings, MFA has numerous office and
multifamily development projects in progress in New York, Boston, Washington, Denver, Seattle,
San Francisco, and Los Angeles. www.mfamerica.com

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Walnut Creek BART Transit Village

Facts & Figures

RESIDENCES

The two mixed-use phases of WCTV include 596 units, with open and flexible floor plans. The first
phase, under construction as of October 2019, includes 45 studio apartments (500-640 sf), 228
one-bedroom apartments (630-1,050 sf), 71 two-bedroom apartments (965-1,370sf) and 14 threebedroom
apartments (1,180-1,470 sf). The Phase I building features urban-inspired design,
combined with over 20,000 sf of amenity space and ground floor retail. Amenities include a
coworking Great Hall, Athleisure Lounge, Private Dining Room, Pool and Spa, Roof Deck, Multi-
Level Fitness center, pet facilities and more. Each unit will be of the highest quality and include the
latest washer/dryers and appliances, high-end finishes and full connectivity options for
entertainment and communications.

RETAIL

Once completed, WCTV will include 26,000 square feet of retail and restaurant space. The first
phase includes 14,500 sf located along Pringle Blvd. and along the BART Patron Drop Off
adjacent to the station. This new space will complement Walnut Creek’s already strong retail mix,
bringing in local, artisanal purveyors and popular regional-national brands alike. With a dense
concentration of premier eateries and lifestyle amenities, Walnut Creek has long been established
as not only the East Bay’s premier retail destination, but one of California’s premier retail locales.
Walnut Creek has continued to expand its significant retail, culture, and nightlife options to include
Neiman Marcus, Apple, Tiffany & Company, Tesla, Whole Foods and the Lesher Center for the
Arts, among many others.

COMMUTER CONNECTIVITY

Walnut Creek Transit Village is located directly on the Walnut Creek Bay Area Rapid Transit
(“BART”) Station, fronting I-680 at the intersection of Ygnacio Valley Road and North California
Boulevard. The project’s proximity to BART, the Bay Area’s premier public transportation system,
as well as I-680 and CA-24, two of the most heavily traveled transportation routes in the East Bay,
will offer residents outstanding commuter access to the entire Bay Area and its major employers.
BART provides access to downtown Oakland in 25 minutes, and downtown San Francisco in 35
minutes from Walnut Creek. Walnut Creek is also well-located for recreation with the Iron Horse
Regional Trail, connecting the cities of Concord and Dublin accessible 0.7 miles from the project.
Covering 55 miles, the Iron Horse Regional Trail is designated for pedestrians, bicyclists and
horseback riders. Just a 15-minute walk from the project, the multi-use, whole-access trail allows
residents a path to walk or bike on a safe, automobile-free thoroughfare. Walnut Creek Transit
Village enhances the transit station’s role as a regional inter-modal facility. Expanded bus facilities
built as part of the new parking garage at the station ease access and speed the transfer of
passengers using CCTA, City of Walnut Creek Free Shuttles and local buses, as well as ride-share
and other services. Dedicated bike lanes, bike/car road sharing enhancements, bike storage and
other improvements are designed to increase bike use. Pedestrians will find it easier to get to, and
around, the BART Transit Village as well.

WALNUT CREEK

With a 96 out of 100 Walk Score, Downtown Walnut Creek has established itself as a model of
urban redevelopment in Northern California and as the retail, entertainment and employment
capital of the East Bay. Located in the hub of Contra Costa County, Walnut Creek is the ultimate
community with fine dining, shopping, arts and entertainment. Drawing on its central location at the
intersection of BART, CA-24, and I-680, as well as its neighboring cities Lafayette, Danville, and
San Ramon, Walnut Creek ranked 11th on Livability’s 2016 list of the 100 Best Places to Live in
the U.S., scoring high for its amenities, education options and health care. The city enjoys
attractive public spaces, and plenty of opportunities for outdoor recreation in its 16 parks, and it
owns and maintains an amazing 3,000-plus acres of open, undeveloped space dedicated to
wildlife preservation, outdoor activities such as hiking and camping, and programs that range from
historical tours to “Frog Fanatics.” The city’s much-admired, eclectic restaurant scene landed it on
Livability’s 10 Best Foodie Cities list, which noted a dining community that favors locally owned
establishments over chains. Walnut Creek’s range of vibrant dining options continues to expand
with several restaurants highly rated by the Zagat Guide and Wine Spectator, including national
upscale outlets as well as local boutique favorites. Walnut Creek is host to several restaurants
rated 4.5 or better on the new Zagat Guide rating scale, including the Wine Spectator Award of
Excellence winning Prima Ristorante and newcomer Rooftop featuring former Iron Chef competitor
and Slanted Door alumnus, Justine Kelly.